Americans Moving Less
The number of American moving has receded 11% since last year. "The decline marked the fifth straight year in which the share of the population moving dropped," Don Lee reports. Lee argues that this change doesn't just reflect changing demographics or preferences but a decline in economic mobility.
In the past American workers' willingness to move distinguished them from their counterparts in other mature economies like those in Japan and parts of Europe.
Some speculated that the recovery would spark more moves, but that has not happened. "…lingering effects from the recession and demographics suggest that many people will remain tethered to where they are," Lee reports.